Mitsubishi UFJ Trust & Banking Corp Sells 8,068 Shares of McKesson Corporation $MCK

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in McKesson Corporation (NYSE:MCK) by 7.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,592 shares of the company’s stock after selling 8,068 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.09% of McKesson worth $78,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Acadian Asset Management LLC boosted its holdings in McKesson by 22.0% in the 1st quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock worth $254,979,000 after buying an additional 68,294 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of McKesson during the first quarter worth $289,000. Lynwood Price Capital Management LP grew its position in shares of McKesson by 18.3% in the second quarter. Lynwood Price Capital Management LP now owns 25,800 shares of the company’s stock valued at $18,906,000 after purchasing an additional 4,000 shares in the last quarter. Archford Capital Strategies LLC grew its holdings in McKesson by 151.8% during the 2nd quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company’s stock valued at $1,668,000 after buying an additional 1,372 shares in the last quarter. Finally, Focus Partners Wealth grew its holdings in McKesson by 3.3% during the 1st quarter. Focus Partners Wealth now owns 71,558 shares of the company’s stock valued at $48,159,000 after buying an additional 2,283 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Down 1.8%

MCK stock opened at $841.01 on Thursday. The business has a 50 day moving average of $767.30 and a 200 day moving average of $727.61. The firm has a market cap of $103.80 billion, a PE ratio of 33.53, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. McKesson Corporation has a twelve month low of $558.13 and a twelve month high of $867.63.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.84 by $1.02. The business had revenue of $103.15 billion during the quarter, compared to analysts’ expectations of $103.80 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $7.07 earnings per share. On average, research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s dividend payout ratio (DPR) is presently 10.21%.

Analyst Ratings Changes

MCK has been the topic of a number of analyst reports. UBS Group upped their target price on shares of McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. TD Cowen raised their price objective on McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Cowen reissued a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. Finally, Morgan Stanley increased their target price on shares of McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $887.69.

Insider Buying and Selling

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the transaction, the chief accounting officer owned 328 shares in the company, valued at $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the sale, the chief executive officer owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 24,189 shares of company stock valued at $16,787,319 over the last quarter. Company insiders own 0.08% of the company’s stock.

McKesson Company Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.